S. 5219 aims to change the tax laws in the United States to allow people to deduct more money from their state and local taxes on their federal tax returns. Specifically, it proposes to increase the current deduction limit from $10,000 to $100,000, or double that amount for...
Simple Explanation
The bill wants to change the rules so people can save more money when they pay their taxes by allowing them to count up to $100,000 of their state taxes, rather than just $10,000, when figuring out how much they owe to the government.